You probably already know how important auto insurance is! It’s required in most states and protects your savings, property and other valuable assets if you're ever sued after an accident. Even so, you may wonder if you ought to worry when you're insurance shopping and a company checks your “credit-based insurance score.”
The answer’s no. You have nothing to fear from a soft pull.
A soft pull inquiry is when a person or company checks your credit report as part of a background check. Whether it’s an employer vetting you for a job or a credit card company pre-approving you for an offer (or even you checking your own score), this type of search won’t lower your credit rating or ding your future credit prospects.
Your auto insurance agent is checking for factors like bill payment and credit history that correlate with what kind of customer you’ll be. You can see their searches if you request your credit report from a major bureau – but loan officers can't. (So, the big question: Is there a hard pull? Yes, when you’re actually applying for credit, companies do a search that will leave a record.)
Ready to shop for insurance now – or try to beat your current coverage before it expires? Mylo can help you compare quotes from top carriers so you can take advantage of discounts you may not know about and give your financial assets the smartest protections.
Soft pull or not, we'll make a hard push to find you the right policy at the best value!